Strategising

Brokers say that the buyer is looking for a strategic stake in Richard Peiris and perhaps the management of the company. rn

rnThe trade propped the benchmark All Share Price Index by 0.44 points to close at 618.29.rn

rnThe Milanka Price Index closed 1.8 points higher at 1034.67 at the close of trading. rn

rnTurnover was higher from yesterday at Rs. 129.56 million.rn

rnMeanwhile, a strategic stake of 1 million shares in Lanka Walltiles moved in the market. rn

rnBrokers said that similar quantities were changing hands, indicating that a strategic deal was going through. Brokers however, failed to give a name to the buyer. rn

rnOther top trades came from 310,000 Richard Peiris, 213,000 Caltex Lubricants and 284,000 Sampath Bank.